Bill > H3206

This bill introduces new definitions and requirements for fossil fuel-free investment options within Massachusetts' prepaid tuition and college savings programs. Specifically, the bill defines a "fossil fuel free portfolio" as an investment portfolio that limits fossil fuel investments to less than 0.25% of its total portfolio, maintains an expense ratio no more than 1.5 times the median expense ratio of all MEFA (Massachusetts Educational Financing Authority) portfolios, and explicitly states the exclusion of fossil fuel companies in its prospectus. The bill also comprehensively defines "fossil fuel investments" to include companies involved in various stages of fossil fuel production and services, such as exploration, extraction, processing, refining, transmission, and providing equipment for oil fields or drilling platforms. The legislation aims to expand investment options by allowing "fossil fuel free" investment choices within existing prepaid tuition and college savings programs, giving investors an opportunity to align their educational savings with environmentally conscious investment strategies. This change provides more flexibility and ethical investment choices for individuals saving for educational expenses.

Budget and Finance

https://malegislature.gov/Bills/194/H3206